Omaha daily bee., 1887-11-23
THE SPECULATIVE MARKETS.
Wheat Active With a Good Volume
of Business Doing.
CORN SELLING CAUSES A DROP
The Movement in Provisions Somc-
what Irregular The Hog Trade
Active at an Adyancc-Gcn-
cral Quotations.
CHICAGO PRODUCE MARKET.

CHICAGO, Nov 22. Special Telegram to
the BEE. The wheat market was active to-
day, and there was a good volume of bust
ness, but that portion of it which came from
outside customers was but moderate. The
local feeling was the chief influence and an
element of fear appeared to be prominent.
Two or three Of the heavier local traders are
known to have bought very largely of May
delivery, and the remainder of the local
crowd seemed to be constantly apprehcnsive
lest this wheat be unloadcd on them. The
market was therefore extremely sensitive,
and when fuctuaton either way passed &c
it was likely to grow to &c with great speed.
However, at s3c for May delivery there was
always strong support and quick reaction
from about that figure The opening was at
an advance over last nights closing at 1695c
for December 771sc for January and s314c
May, and the first impulse was upward, due
apparently to cables, which quoted an up
ward tendency for wheat in Liverpool. De
cember reached 169lc, January 7s}sc and
May s33Ec The temper of the local traders
was bearish, however, and with the apprc-
hension above mentioned constantly with
them they ran prices down again, December
touching 1Gl4c, January ,63Sc and May s3c
operation was repeated, the stand quickcsts
movement being near the close, when May
wheat advanced from s3Gls31sc to s3l5c fell
to S3lsc and advanced to s3ltc, which was
the o'clock close, at exactly the opening
prices. Other deliveries closely follow the
fortunes of May the close of the morning
session being at 10 sc for December and ne
bid for January.
The corn market was less active than of
late and the selling of large amount of long
grain caused drop of &c i'll the price at one
time. There was only moderate business
In cash corn and prices ruled somewhat lower
than yesterday One of the weakening
features of the market is the prospect of
lower freight rates from Missouri river
points, which will stimulate shipments and
increase receipts here. The receipts OdaY,
however, were but ABB cars-about 50 cars
less than the cstimate-and the estimate for
tomorrow is 80 cars. sympathy with wheat
Is given as reason for the strength in the
speculative corn market. The opening prices
were 444@44asc for December, Al lm4436c
for January and 49c for May. With the cx-
ccption OF January delivery, which sold i'm
mediatcly after the opening at 44bsc straight,
these were the highest prices of the day.
December sold down to 43$l l0I431Sc, January
to "A a44l4 and May to 4S12c, and during
most of the session prices ruled lower than
at the opening. Shortly before the close,
however, there was an advance to about the
opening ngureS ana tnc O'Clock closing was
at 49, for December, 44asM4412c for Janu-
airy and 4s5S049c for May.
Oats We're moderately active and firm in
the speculative market and Il little squeeze in
November is apparent. That future was
offered very sparingy and closed at 275Sc bid,
or sc higher. December sold from 21l+c TO
2IS4c and few trades were made in January
at 2Il4c, both closing on the split at 211400
21a,c at o'clock. May, the leading future,
opened at 3O7sM3lc together, touched 301sc,
then improved to 81 SC and closed at Bic, or
the same as yesterday.
In provisions the movement was somewhat
irregular. Trade as "A rule appeared to have
the support of a good strong undcrtone, but
the realizing of parties, generally small
holders, who had profit in recent purchases,
kept the supply of property ample and made
prices subject to frequent changes. Trading,
largest sales reported so far this season
occurred. One round lot Of 10000 barrels of
pork for January and a single lot of 1000
tierces of lard for May were sold. The pork
brought Sl4.OO and the lard S63Il2. The
days market recovered in measure from
yesterdays depression at the afternoon ses-
sion and at | o'clock showed an actual ad-
vance Of l5c on pork and enc on lard and
short ribs.
AFTERNOON SEssIoN-Wheat lower: May
f21sc, December 16c, January 7619 9a16@Sc and
February at nc Corn easier; May 4S5Ec,
December 44i3c and January at 44sfc. Oats
tl3S7l? for January, Sl4OO for February and
el4 435al43719 for May. Lard declined 2I5c
and closed at s. S2l2 for February and 73O
for May. Short RIBS closed 214c lower, rest
ing at S6.95 for January, sos for February
and 81 10 for March.